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Addison Lee report losses of £39million as they attempt to compete with public bound Uber

London based private hire firm Addison Lee has reported losses for last year of £39 million. That comes after losses in the year before of £20.8 million, as they desperately attempt to compete with ride-sharing giants Uber. Carlyle Group, the American private equity group that owns Addison Lee, has hoisted a “for sale” sign over…
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May 7, 2019 0

Addison Lee reports losses of £39m in Uber battle – sold by John Griffin for £150 million!

Technology investment to persuade taxi users to tap on its app rather than Uber’s has pushed Addison Lee deeper into the red. The private hire operator, the largest player in the London market after black cabs and Uber, has reported losses for last year of £39 million. That comes after losses in the year before…
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May 7, 2019 0

‘They treat us like crap’: Uber drivers feel poor and powerless on eve of IPO

A lot of very rich people will get even richer when Uber goes public on 9 May in one of the most anticipated initial public offerings (IPO) to hit the stock market in 2019. Travis Kalanick, Uber’s founder, could see his 8.6% stake in the company valued at close to $8bn if the company is…
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May 7, 2019 1

Uber promises a bottomless well of money to investors … but not yet

Who wants to invest in a company that has never made a profit, admits it may never do so and is on the brink of war with its global workforce? Probably a fair old chunk of Wall Street, as it happens. This week Uber, the ride-hailing and food delivery service, will put a price on…
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May 5, 2019 0

Uber class action: taxi and hire-car drivers join lawsuit against company

A class action filed on behalf of thousands of taxi and hire-car drivers against Uber alleges the global rideshare company operated illegally in Australia. Maurice Blackburn Lawyers says more than 6,000 people have joined the action, covering drivers across Victoria, New South Wales, Queensland and Western Australia.

May 3, 2019 0

Addison Lee taxi drivers stage 24-hour strike at Luton airport

Addison Lee taxi drivers staged a 24-hour strike at London Luton Airport at 5am on Wednesday, May 1, in a dispute over unfair working conditions and pay. Members of the United Private Hire Drivers Branch (UPHD) of the Independent Workers Union (IWGB), working for Addison Lee, said they were not earning the minimum wage.

May 2, 2019 0